On a monthly measure ANZ is growing slightly ahead of its big-bank rivals while Westpac continues to lose market share, according to investment bank Nomura. The assessment is based on monthly banking figures compiled by the Australian Prudential Regulation Authority.

However, said Nomura analyst Victor German, while Westpac appeared more aggressive on pricing in the mortgage market, it would take time for the bank to regain momentum. Mr German said continued improvement in housing credit appeared to be underpinned by the household sector’s appetite for low-interest borrowing.

Business credit growth trends remain weak, with October figures highlighting a small decline. While the broader mortgage market grew at 5.5 per cent in the past year, Westpac’s mortgage book grew just 1.8 per cent. ANZ has grown fastest, at 7.1 per cent, while NAB had growth of 6.9 per cent. Commonwealth Bank largely matched the overall market with growth of 5.8 per cent.

In terms of overall banking market share, Commonwealth Bank has 26.8 per cent and Westpac 24.7 per cent. After making gains in recent years NAB is on 16.3 per cent and ANZ has a 14.8 per cent share of the nation’s mortgage market.